Beach Club Inc
- Assets
- $37.1m
- Revenue
- $8.1m
- Investments
- $0.0
- Employees
- 132
- Location
- Palm Beach, FL
- Founding
- 01/1992
- Data as of
- 11/2021
- EIN
- 59-1216007
Organization Overview
Beach Club Inc is located in Palm Beach, FL. The organization was established in 1992. According to its NTEE Classification (N60) the organization is classified as: Amateur Sports, under the broad grouping of Recreation & Sports and related organizations. As of 11/2021, Beach Club Inc employed 132 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Beach Club Inc is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 11/2021, Beach Club Inc generated $8.1m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.6% each year. All expenses for the organization totaled $10.7m during the year ending 11/2021. While expenses have increased by 7.9% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO BIND ITS MEMBERS TOGETHER BY A COMMON OBJECTIVE DIRECTED AT PLEASURE AND RECREATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FOOD AND BEVERAGE SALES TOTALED $ 2,397,117 FOR THE YEAR ENDING 11/30/21, OF WHICH $ 603,488 WAS NON-MEMBER RELATED INCOME.
THE BEACH CLUB PROVIDES SERVICES TO APPROXIMATELY 700 MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Shaw General Manager | Officer | 40 | $378,604 |
Frank Vermeer Tennis Director | 40 | $242,509 | |
Matthew Sobon Chef | 40 | $203,746 | |
Cosmin Dragomir Assistant Gm | 40 | $158,445 | |
Larry Klimantiris Director Of Finance/hr | 40 | $150,707 | |
Rhonda Roarke Social Secretary | 40 | $132,762 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $6,120,721 |
| Investment income | $6,777 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$77 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,826,396 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,080,302 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,753,790 |
| Pension plan accruals and contributions | $151,278 |
| Other employee benefits | $1,170,668 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $18,522 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,361,551 |
| Insurance | $581,868 |
| All other expenses | $1,123,423 |
| Total functional expenses | $10,733,695 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,207,336 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $772,716 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $147,976 |
| Prepaid expenses and deferred charges | $203,580 |
| Net Land, buildings, and equipment | $28,052,142 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $763,531 |
| Total assets | $37,147,281 |
| Accounts payable and accrued expenses | $574,315 |
| Grants payable | $0 |
| Deferred revenue | $5,405,206 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,751,186 |
| Total liabilities | $9,730,707 |
| Net assets without donor restrictions | $27,416,574 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $37,147,281 |
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| Organization Name | Assets | Revenue |
|---|---|---|
Johns Island Club Inc Vero Beach, FL | $123,619,232 | $39,066,168 |
Cherokee Town & Country Club Inc Atlanta, GA | $70,405,206 | $43,703,981 |
St Andrews Country Club Inc Boca Raton, FL | $67,588,016 | $28,385,359 |
Capital City Club Inc Atlanta, GA | $84,524,331 | $33,363,422 |
Everglades Club Inc Palm Beach, FL | $55,459,603 | $24,732,349 |
Atlanta Athletic Club Johns Creek, GA | $48,939,283 | $29,765,696 |
Piedmont Driving Club Atlanta, GA | $77,050,064 | $28,104,317 |
Royal Poinciana Golf Club Inc Naples, FL | $61,264,527 | $17,332,259 |
Riviera Country Club Of Coral Gables Inc Coral Gables, FL | $63,238,082 | $21,710,203 |
Phi Mu Fraternity Peachtree City, GA | $13,751,042 | $22,181,589 |
Ansley Golf Club Atlanta, GA | $48,365,690 | $21,052,650 |
Royal Palm Yacht & Country Club Boca Raton, FL | $46,256,364 | $15,345,430 |